This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Triple S Supply Co. declared its annual cash dividend on its 3% preferred stock (total par value ... (Read 79 times)

stephzh

  • Hero Member
  • *****
  • Posts: 556
on: Feb 18, 2020
Triple S Supply Co. declared its annual cash dividend on its 3% preferred stock (total par value $98,000) and a $0.25 per share cash dividend on its common stock (54,000 shares outstanding). The journal entry for the declaration date is:
◦ debit Retained Earnings $16,440, credit Dividends Payable - Preferred $2,940, credit Dividends Payable - Common $13,500
◦ no entry required on the declaration date.
◦ debit Retained Earnings $13,500, credit Dividends Payable $13,500
◦ debit Retained Earnings $4,260, credit Dividends Payable - Preferred $2,940, credit Dividends Payable - Common $1,320
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by stephzh on Feb 18, 2020

reversalruiz

  • Sr. Member
  • ****
  • Posts: 327
Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


stephzh

  • Member
  • Posts: 556
Reply 2 on: Feb 18, 2020
Wow, this really help

Joy Chen

  • Member
  • Posts: 354
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

An Oil-dependent World— Supply and Demand Driven An Oil-dependent World— Supply and Demand Driven
Canada Total Energy Consumption by Fuel Type Canada Total Energy Consumption by Fuel Type
Who Oversees the Food Supply? Who Oversees the Food Supply?
Total Fertility Rate in the United States, 1860–2008 Total Fertility Rate in the United States, 1860–2008
Stock Market Question Stock Market Question
A company purchased 26 desks for $240 each and 18 chairs for $59 each. Compute the total ... A company purchased 26 desks for $240 each and 18 chairs for $59 each. Compute the total ...
Video: Transcription—A molecular view

For a complete list of videos, visit our video library